5/18 Analysis: JPY & USD Strong, EUR Weak
What stands out to me before the London open is the pink line (which represents the EUR) is moving down steeply and the yellow line (which represents the Japanese Yen) is moving up steeply. The blue line (which represents the US Dollar) is also rising steeply.
These are the currencies that are MOST favorable for trading right now and timing is the key.
So I’d be looking to:
- BUY USD
- BUY JPY
- SELL EUR
When you match the strongest and weakest currencies at the right time you get a high probability, low risk trade set up. (*NOTE-there are other factors we look for and advanced tools that our Home Study Course students get that assist them in entering at the perfect time with momentum but matching the strongest VS weakest is the basis for entry).
If we look at the EUR/USD on the London open, you can see it went down immediately with hardly any pull backs.
This was a 50 pip move. You can see the same result with the EUR/JPY.
If you were looking at charts in pairs (which most amateur Forex traders do), you would most likely not have had the proper analysis to catch this move in time. In addition, if you are limiting yourself to watching only a few pair charts, you are missing potentially the most profitable trades in any given session. Because our tools are efficient, we can spot the best opportunities (and the perfect timing for those entries) on 28 different pairs.
During the rest of today’s video, I walk you through our analysis of the NY open so you can see those results as well.
Watch the video analysis below:
You can see that our Currency Strength Indicator is an effective tool for getting into the very best trends early on and allowing you to ride them out for maximum profits.
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